Core Viewpoint - Citigroup's report indicates that Cao Cao Travel (02643) aims to establish a comprehensive travel and business travel technology platform by acquiring StarRides and Geely Business, targeting both individual and corporate clients [1] Group 1: Strategic Acquisitions - The acquisitions of StarRides and Geely Business are intended to enhance Cao Cao Travel's service offerings [1] - The strategy focuses on creating a one-stop platform for both personal and corporate travel needs [1] Group 2: Financial Implications - Citigroup maintains a "Buy" rating for Cao Cao Travel and sets a target price of HKD 70 [1] - Providing services to corporate clients and high-end users is expected to improve the overall ARPU (Average Revenue Per User) and profit margins for the company [1] Group 3: Customer Loyalty and Synergies - The targeted user groups are likely to exhibit higher loyalty and stickiness to the platform [1] - There is potential for cross-selling synergies that could benefit the existing travel business of the company [1]
花旗：续予曹操出行目标价70港元 收购事项可带来协同效应